Subsea systems market forecast and opportunities, 2014 2024 - TechSci Research

1. 2014 – 2024 GLOBAL SUBSEA SYSTEMS MARKET COMPETITION, FORECAST & OPPORTUNITIES Published: September, 2019 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

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13. Scope of Report Product of Interest (POI): Subsea Systems Subsea equipment is used to explore, develop, and bring the produced hydrocarbons from the seabed to the surface. These are generally floating systems, located on the seabed, shallow, or deep water. This system is used to extract petroleum products at the seabed and send to an already existing oil & gas production facility or an onshore facility. Market Segmentation SUBSEA PRODUCTION COMPONENT TYPE Review Period 2014 – 2017 Base Year 2018 Estimated Year 2019 Forecast Period 2020 – 2024 Year Range • SURF (Subsea Umbilicals, Risers, Flowlines) • Subsea Control System • Subsea Trees • Subsea Manifolds • Subsea Production System • Subsea Processing System SUBSEA SYSTEMS MARKET SUBSEA PROCESSING TECHNOLOGY REGION • Asia-Pacific • North America • Europe • South America • Middle East & Africa • Subsea Boosting System • Subsea Separation System • Subsea Injection System • Subsea Compression System

14. Product Overview Subsea Trees SURF (Subsea Umbilicals, Risers, Flowlines) Subsea trees are utilized to monitor and control the oil and gas production of a subsea well. Subsea trees also manages the gas and fluids injected into the subsea well. Subsea umbilicals, risers and flowlines form a vital link during various stages of oil and gas extraction. These equipment are made with set standards, as they have to withstand high mechanical and chemical stress operating under high temperature and pressure. Subsea umbilicals act as control cables capable of operating various tasks on the seabed from the surface including activation of producing wells, operation of subsea control panels, and providing real time information to operators related to production flow such as temperature and pressure Subsea Production Component Subsea Control System Subsea control systems allow the systems on the seabed to be controlled from the surface and topside controls. Subsea Manifolds Subsea manifolds works as a subsea flow router, that connects subsea trees and flowlines. These are of three types, namely; template manifold, cluster manifold, and pipeline end manifold (PLEM).

15. Product Overview Subsea Boosting System Subsea Injection System This system injects the raw seawater directly on the seabed in order to put pressure on oil wells and increase oil recovery. Subsea boosting systems are used to provide energy to the overall system and handle flow of the unprocessed liquid like water, oil, gas, etc. It reduces the cost, and onshore space requirement. Subsea Processing Technology Subsea Compression System Subsea Separation System Subsea separation systems are used to separate the fluid on the seabed and then send to the onshore facilities with minimum amount of water. Separated water can be used to inject again to formation either to generate pressure or for disposal. Subsea wells require boosting of the reservoir flow when pipeline downstream pressure drops down. Subsea gas compression systems replace the need for an onshore compression facility.

16. Research Methodology Market Profiling Data Analysis Data Collection Data Validation Developing List of Respondents Formulating Questionnaire • In-depth secondary research was conducted to determine top players in Global Subsea Systems market, overall market size and segmental market size. • The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about Global Subsea Systems Market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Final Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Associations, etc. • Factiva • Hoovers

17. Research Methodology • Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of global subsea systems market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors and speculated growth during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in global subsea systems market. Methodology Followed for Calculation of Market Size: • Market Size by Value: Market size, in terms of value, for the year 2018 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as subsea systems manufacturers, oil & gas industry experts, etc. • The team interviewed more than 30 companies, 20 industry experts and other value chain stakeholders in global subsea systems market to obtain the overall market size during 2014-2018, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2014-2018.

18. Research Methodology • Respondents were asked about the current and future market growth rates, as well as market shares by type, by subsea production component, by subsea processing technology, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders Methodology Followed for Calculation of Market Shares: • Market shares by type, by subsea production component, by subsea processing technology, by region, and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares of the leading subsea systems manufacturers. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies in global subsea systems market. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the survey results in SPSS/Tableau Software.

19. Research Methodology • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global subsea systems market, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium- and long-term period to estimate and analyze market demand scenario.

20. INDUSTRY BRIEF According to a report published by TechSci Research on “Global Subsea Systems Market By Type, By Subsea Production Component, By Subsea Processing Technology, By Region, Competition, Forecast & Opportunities, 2024”, global subsea systems market is anticipated to witness growth at a CAGR of over 4% during forecast period on account of increasing focus on oil & gas production from offshore fields, particularly activities in deep-water reserves. Moreover, growing investments in oil and gas industry to meet the rising demand is further bolstering the growth of global subsea systems market. However, crude oil price fluctuations and complex underwater conditions are restraining the growth of the global subsea systems market. On the basis of type, global subsea systems market is categorized into subsea processing system and subsea production system. Among these types, subsea processing system category accounted for a significant portion of the global subsea systems market in 2018. The growth of this category can be attributed to increasing demand for oil and gas technology upgradation. Among regions, North America accounts for a significant portion of global subsea systems market on the back of offshore activities in the oil fields in the US and Mexico. Moreover, APAC is also anticipated to witness significant growth rate during the forecast period due to the reforms undertaken by the governments for increasing oil production in the region. “Global subsea systems market is likely to witness growth during forecast period. Subsea systems market is witnessing a healthy growth in the MEA region owing to rising investments in major oil producing African nations, namely, Ghana, Nigeria, Angola, and Equatorial Guinea driven by large new offshore discoveries. Additionally, it is also expected that growing demand for energy in developing countries of Asia-Pacific, like China and Indonesia would further fuel growth of global subsea systems market over the next five years.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

21. SAMPLE DATA - SNAPSHOT • Global Subsea Systems Market Size, By Value, 2014-2024F (USD Million) CAGR (2019E-2024F) By Value: xx% CAGR (2014-2018) By Value: xx% • Global Subsea Systems Market Share, By Subsea Production Component, By Value, 2018 • Global Subsea Systems Market Share, By Type, • By Value, 2018

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